Edgestream Partners L.P. Sells 59,361 Shares of Robinhood Markets, Inc. $HOOD

Edgestream Partners L.P. lowered its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 50.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,889 shares of the company’s stock after selling 59,361 shares during the period. Edgestream Partners L.P.’s holdings in Robinhood Markets were worth $5,514,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. True Vision MN LLC increased its position in shares of Robinhood Markets by 1.7% during the second quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after purchasing an additional 116 shares in the last quarter. Forum Financial Management LP grew its stake in Robinhood Markets by 0.8% during the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock worth $1,685,000 after buying an additional 134 shares during the last quarter. Hemington Wealth Management grew its stake in Robinhood Markets by 22.5% during the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company’s stock worth $72,000 after buying an additional 143 shares during the last quarter. Ballentine Partners LLC increased its position in Robinhood Markets by 2.3% during the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after buying an additional 148 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JMP Securities boosted their price target on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Mizuho upped their price target on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Finally, CICC Research began coverage on shares of Robinhood Markets in a report on Monday, October 27th. They set an “outperform” rating and a $155.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.95.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 48,350 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the transaction, the insider directly owned 70,279 shares of the company’s stock, valued at approximately $9,881,930.19. This trade represents a 40.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,935,159 shares of company stock valued at $503,220,491. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $125.95 on Wednesday. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The company has a market capitalization of $113.25 billion, a PE ratio of 52.26, a P/E/G ratio of 2.77 and a beta of 2.43. The company has a fifty day moving average of $132.67 and a 200 day moving average of $108.58.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.